The end of an era

Rethink what’s normal

Portuguese Hospitality
Atlas 2020 – 15th edition
Preface
The end of an era
It is with great pleasure that we release the 15th edition of the Portuguese Hospitality Atlas, a tool that has already assumed itself as a
reference in the tourism sector and that Deloitte is proud of.

In 2019, tourism has once again proved its resilience. The number of overnight stays and guests broke new records, leading to a solid
and growing demand for the sector. Most regions of the country also reported a rise in occupancy rates and RevPAR, which highlights
the positive evolution of the tourism operational performance.

The survey addressed to the main industry players, also included in this report, reveals that 31% of the participants believe that Lisbon
will remain the most attractive European city for the hotel investment in 2020. In addition, the main sources of funding are expected to
come mainly from international hotel groups and private equities, with capital coming mainly from European countries.

It is worth mentioning that the following report was prepared with reference to 2019, and therefore does not consider the impact of
the Coronavirus (Covid-19) pandemic that begun to be felt from mid-March 2020. Notwithstanding, the chapter of the survey draws up
a comparative analysis of the participants’ perception regarding the pandemic consequences as of march 2020 and july 2020.

We would like to thank, once again, the constant support and collaboration of the sector players in the preparation of the Portuguese
Hospitality Atlas. The success of this initiative is largely due to their contribution.

Jorge Sousa Marrão

Real Estate Sector Leader
Contents

New hotel
Regional establishments
analysis in 2019
European
benchmark
Breakdown
by classification

Top 5 ranking
evolution

Breakdown
by type

Portuguese Hotel
Investment
National Survey
ranking
About

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National
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ranking

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 Ranking of Hotel groups / Management entities in Portugal
1
(number of accommodation units)
Home
National ranking Ranking
Hotel group /
Management entity
Hotel
establishments
Lodging capacity
accomodation units 1
Beds
International
presence

Current 2019 No. % of total No. % of total No. % of total Yes / No

Ranking of Hotel groups /

2
1 1 Pestana Hotels & Resorts / Pousadas de Portugal 73 3.4% 8,337 5.5% 17,289 5.4%

Management entities in Portugal

2 2 Vila Galé Hotéis 25 1.2% 4,586 3.1% 9,392 2.9%

3 3 Accor Hotels 3 33 1.5% 3,418 2.3% 6,748 2.1%

(number of accommodation units)1 4 4 Minor Hotels
3
16 0.8% 2,950 2.0% 6,322 2.0%

5 5 Hoti Hotéis/ Meliá Hotels & Resorts 19 0.9% 2,767 1.8% 5,501 1.7%

4
6 6 Marriott Hotels & Resorts 11 0.5% 2,492 1.7% 5,690 1.8%

7 7 SANA Hotels 13 0.6% 2,120 1.4% 4,204 1.3%

8 8 VIP Hotels 12 0.6% 2,107 1.4% 4,338 1.4%

5
9 9 InterContinental Hotels Group - IHG 10 0.5% 1,724 1.1% 3,425 1.1%

10 10 DHM - Discovery Hotel Management 16 0.8% 1,581 1.1% 3,708 1.2%

11 17 Turim Hotéis 16 0.8% 1,565 1.0% 3,079 1.0%

3
12 15 Hotusa Hotels 17 0.8% 1,530 1.0% 3,132 1.0%

3
13 14 Porto Bay Hotels & Resorts 12 0.6% 1,458 1.0% 2,918 0.9%

14 11 Dom Pedro Hotels 7 0.3% 1,399 0.9% 2,915 0.9%

3
15 12 NAU Hotels & Resorts 10 0.5% 1,387 0.9% 3,738 1.2%
1

2
16 13 HF Hotéis Fénix 9 0.4% 1,363 0.9% 2,728 0.8%

3 17 16 Hotéis Real 9 0.4% 1,304 0.9% 2,806 0.9%

3
18 19 Luna Hotels and Resorts 13 0.6% 1,222 0.8% 2,531 0.8%

3
19 18 MGM Muthu Hotels 6 0.3% 1,220 0.8% 2,596 0.8%
1
Accommodation units represent the number of rooms and/or apartments. 3
20 29 Bensaude Turismo 9 0.4% 1,203 0.8% 2,359 0.7%
2
Pousadas de Portugal only include the Monumental & Historical Hotels that are under
management of Pestana Hotels & Resorts Group. Sub-total 336 16% 45,733 30% 95,419 30%
3
This analysis was prepared based on public available information.
4
Data relating to the hotel establishments Penha Longa, Sheraton Lisboa Hotel & Spa and The Other Hotel groups / Management entities 528 25% 49,839 33% 107,316 33%
Fontecruz Lisboa (which are part of Marriott Hotels & Resorts) was based on public available
information. Independent 1,268 59% 54,666 36% 118,493 37%
5
Data relating to the hotel establishments Crowne Plaza Porto e Cardosas Porto, Crowne
Plaza Vilamoura Algarve and Holiday Inn Express (which are part of InterContinental Hotels Total 2,132 100% 150,238 100% 321,228 100% About
Group - IHG) was based on publicly available information.

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Breakdown
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by type

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 Home
Breakdown by type

(1,520) (108,446) (230) (13,216) (168) (18,345)

71% 72% 11% 9% 8% 12%

Hotel Tourist Apartment Hotel-apartment

1,520) (108,446) (230) (13,216) (168) (18,345)

71% 72% 11% 9% 8% 12%

(116) (2,391) (63) (6,499) (35) (1,341)

5%
Hotel 2% Tourist Apartment 3% 4%
Hotel-apartment 2% 1%

(2,391) (63) (6,499) (35) (1,341)

2% 3% 4% 2% 1%
Rural Hotel Tourist Village Lodging Houses

Rural Hotel Tourist

National total: Village Lodging Houses

National total: 2,132 Hotel establishments 150,238 Accommodation units

2,132 Hotel establishments 150,238 Accommodation units
Accommodation units represent the number of rooms and/or apartments.
About
Accommodation units represent the number of rooms and/or apartments.

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Breakdown
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by classification

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Breakdown by classification

5 Stars 4 Stars 3 Stars 2 Stars 1 Star Lodging house

Hotel establishments

5 Stars
9 %4 Stars
38 %
3 Stars

Hotel establishments
33
2 Stars% 1 Star
16 % house
Lodging
3% 1%
(190) (814) (701) (335) (57) (35)

9% 38% 33 % 16 %Accommodation
3% units 1% 1
(190) (814) (701) (335) (57) (35)

17 %
49 %
25
Accommodation units % 1

7% 1% 1%
17 % (25,211)
49 % 25 %
(73,795)
7%(37,878)
1% (10,721)
1% (1,292) (1,341)

(25,211) National
(73,795)total: (37,878) (10,721) (1,292) (1,341)

National total:
2,132 Hotel establishments 150,238 Accommodation units
2,132 Hotel establishments 150,238 Accommodation units
Accommodation units represent the number of rooms and/or apartments.
About
1
Accommodation units represent the number of rooms and/or apartments.

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Regional
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analysis

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Regional analysis
Breakdown by NUTS II North
23%
16%

Center

20% 14%
Lisbon
17% 21%

R. A. Açores
Alentejo
4% 4%
8%
4%

R. A. Madeira
Algarve
10% 31%
7% 21%

National total:

2,132 Hotel establishments 150,238 Accommodation units

About
Accommodation units represent the number of rooms and/or apartments.

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Regional analysis Alentejo
Alentejo Total Total
(638) (638) (484) (484) (345) (345) (205) (205) (155) (155) (6,690)(6,690)
(4,863)(4,863)
10% 10% 7% 7% 5% 5% 3% 3% 2% 2% 73% 73%
TOP 5 Hotel groups /
Management entities by NUTS II Sonae Sonae Pestana Hotels HotelsVila Galé
Pestana
CapitalCapital & Resorts /
Vila Galé Blue & Blue & M'ar deM'ar
Green 2Green 2
Ar de Ar
2
Hotels Hotels 2
OutrosOutros
& Resorts / Hotéis Hotéis

(no. of accommodation units) 1

Pousadas
Pousadas
de Portugal
de Portugal

North
North Total Total Algarve
Algarve Total Total
(1,262)(1,262) (819) (819) (816) (816) (655) (655) (650) (650) (19,176) (23,378)
(19,176) (23,378) (2,300)(2,300) (2,138)(2,138) (1,705)(1,705) (1,211)(1,211) (1,050)(1,050) (38,145) (46,549)
(38,145) (46,549)
5% 5% 4% 4% 3% 3% 3% 3% 3% 3% 82% 82% 5% 5% 5% 5% 4% 4% 2% 2% 2% 2% 82% 82%

Accor Accor
2
HF Hotéis
HF Hotéis Axis Hotéis
Axis HotéisHoti Hotéis/
Hoti Hotéis/ InterContinentalOutrosOutros
InterContinental Pestana Hotels HotelsVila Galé
Pestana Vila Galé Minor Minor NAU Hotels
2
NAU HotelsMGM Muthu
MGM Muthu OutrosOutros
2 2
Hotels Hotels 2 Fénix Fénix e Golfee Golfe Meliá Hotels & Hotels
Meliá Hotels & Group Group
Hotels - - & Resorts /
& Resorts / Hotéis Hotéis Hotels Hotels 2 & Resorts
& Resorts 2 Hotels Hotels 2
ResortsResorts IHG 4 IHG 4 Pousadas
Pousadas
de Portugal
de Portugal

Center
Center Total Total R. A.R.
Açores
A. Açores Total Total
(769) (769) (623) (623) (511) (511) (494) (494) (442) (442) (17,949) (20,788)
(17,949) (20,788) (1,075)(1,075) (446) (446) (381) (381) (274) (274) (229) (229) (5,212)(5,212)
(2,807)(2,807)
4% 4% 3% 3% 2% 2% 2% 2% 2% 2% 86% 86% 21% 21% 9% 9% 7% 7% 5% 5% 4% 4% 54% 54%

Grupo Grupo
de de Hoti Hotéis/
Hoti Hotéis/Montebelo
Montebelo Fátima Fátima NaturaNatura OutrosOutros Bensaude
BensaudeAzoris Hotels
Azoris HotelsAçorsonho
Açorsonho Grupo Grupo VIP VIP OutrosOutros
2
Desenvolvimento Meliá Hotels
Desenvolvimento &
Meliá Hotels &Hotels Hotels
& & Hotels Hotels IMB Hotéis
IMB Hotéis 2 Turismo 2
Turismo 2 & Leisure
2 2
& Leisure 2 Hotéis Hotéis 2 Ciprotur
2
Ciprotur 2 Hotels Hotels
das Termas de 2
das Termas de ResortsResorts ResortsResorts 2
Portugal 2
Portugal 2

Lisbon
Lisbon Total Total R. A.R.
Madeira
A. Madeira Total Total
(1,878)(1,878) (1,804)(1,804) (1,673)(1,673) (1,404)(1,404) (1,107)(1,107) (24,500) (32,366)
(24,500) (32,366) (3,661)(3,661) (835) (835) (788) (788) (747) (747) (658) (658) (8,700)(8,700)
(15,389)
(15,389)
6% 6% 6% 6% 5% 5% 4% 4% 3% 3% 76% 76% 24% 24% 5% 5% 5% 5% 5% 5% 4% 4% 57% 57%

VIP VIP SANA SANA Accor Accor Marriott Hotels Hotels Turim Turim
Marriott OutrosOutros Pestana Hotels HotelsPorto Bay
Pestana Porto BaySavoy Hotels
Savoy HotelsFour Views
Four Views Hotéis Hotéis OutrosOutros
3 2 2
Hotels Hotels Hotels Hotels Hotels 2Hotels 2 & Resorts
& Resorts 3 Hotéis Hotéis & Resorts /
& Resorts / Hotels Hotels & Resorts
& Resorts 2 Hotels Hotels DorisolDorisol 2
2 2
Pousadas
Pousadas & Resorts & Resorts
de Portugal
de Portugal
1
Accommodation units represent the number of rooms and/or apartments.
2
This analysis was prepared based on public available information.
A análiseAefetuada foi baseada
análise efetuada em informação
foi baseada pública disponível.
em informação pública disponível.
3
Data relating to the hotel establishments Penha Longa, Sheraton Lisboa Hotel & Spa and The Fontecruz Lisboa (which
are part of Marriott Hotels & Resorts) was based on public available information.
4
Data relating to the hotel establishments Crowne Plaza Porto e Cardosas Porto, Crowne Plaza Vilamoura Algarve and
About
Holiday Inn Express (which are part of InterContinental Hotels Group - IHG) was based on publicly available information.

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Regional analysis
Average size of the hotel establishments
(no. of accommodation units) 1

Alentejo 41
North 48
Center 49
R. A. Açores 54
National average 69
Lisbon 91
Algarve 102
R. A. Madeira 100

About
1
Accommodation units represent the number of rooms and/or apartments.

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Regional analysis
Comparative analysis by NUTS II

RevPAR 1 74.23€ 54.54€ 44.33€ 42.61€ 38.10€ 33.03€ 25.06€

Lisbon Algarve R. A. Madeira North R. A. Açores Alentejo Center

Occupancy
rate 1
76.1% 65.8% 69.9% 65.0% 62.3% 57.1% 46.3%

Lodging capacity
(no. of rooms)
32,366 46,404 15,389 23,378 5,212 6,701 20,788

Lodging
revenues (000€)
1
1,071,924 908,087 268,118 490,155 90,968 126,434 250,159

Overnight 1
18,425 20,953 7,466 10,720 2,285 2,879 7,101
stays (000#)
1
Guests (000#) 8,109 5,074 1,483 5,827 774 1,586 4,121

Average stay 2.27 4.13 5.04 1.84 2.95 1.82 1.72

1
Forecast data (information extracted on April 2020).
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Source: TP - Travel BI e RNT, INE (December 2019 data), ATL, Turismo do Porto and Portuguese Hospitality Atlas 2020; Analysis: Deloitte.

© 2020. For further information, contact Deloitte Corporate Finance, S.A.

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Regional analysis
Comparative analysis RevPAR

Lisbon region vs Lisbon city

Occupancy rate

74.23€ 90.35€

76.1% 79.2%

Lisbon Lodging capacity

city (no. of rooms)

Guests
32,366 23,105
(000#)
Overnight stays
(000#)

Lisbon 1 Lisbon 2
(NUTS II) (city)
8,109 5,893
1
Lodging capacity for Lisbon Municipality. 18,425 13,816
2
RevPAR, Occupancy rate, overnight stays and guests: forecast data
(information extracted on April 2020)
Source: TP - Travel BI e RNT, INE (December 2019 data), ATL, Turismo
About
do Porto and Portuguese Hospitality Atlas 2020; Analysis: Deloitte.

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Regional analysis
Comparative analysis
RevPAR
North region vs Porto city

Occupancy rate
42.61€ 65.39€

Porto
65.0% 55.0%

city Lodging capacity

(no. of rooms)

Guests
(000#)
Overnight stays
(000#)
23,378 7,539

North1 Porto 2
(NUTS II) (city)
5,827 2,223

1
Lodging capacity for Porto Municipality.
10,720 4,535
2
RevPAR, Occupancy rate, overnight stays and guests: forescat data
(information extracted on April 2020)
Source: TP - Travel BI e RNT, INE (December 2019 data), ATL, Turismo
About
do Porto and Portuguese Hospitality Atlas 2020; Analysis: Deloitte.

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Regional analysis
1
Seasonality index by NUTS II
North Center Lisbon Alentejo

Winter Winter Winter Winter

January February January February January February January February

December March December March December March December March

Autumn-Fall
Autumn-Fall

Autumn-Fall
Autumn-Fall

November April November April November April November April

Spring
Spring

Spring
Spring

October May October May October May October May

September June September June September June September June

August July August July August July August July

Summer Summer Summer Summer

Algarve R.A. Açores R.A. Madeira

Winter Winter Winter

January February January February January February

December March December March December March

Base 1 index
Autumn-Fall

Autumn-Fall

Autumn-Fall
November April November April Spring November April

Spring
Spring

October May October May October May

September June September June September June

August July August July August July

Summer Summer Summer

Seasonality index= # overnight stay by month by NUTS II / Average annual overnight stay by NUTS II.
1
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Source: INE; Analysis: Deloitte.

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Regional analysis
Local accommodation North

17% 16%

Center

Lisbon 12% 12%

Alentejo
R. A. Açores 30% 30%

0% 0% 4% 4%

Algarve
R. A. Madeira

33% 34%
4% 4%
National total:

217,731 Total rooms accommodation units 357,368 Total beds accommodation units

About
Source: Registo Nacional de Estabelecimentos de Alojamento Local; Analysis: Deloitte.

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New hotel
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establishments
in 2020

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New hotel establishments in 2020
Lisbon North Center R. A. Madeira Algarve Alentejo R. A. Açores

1st Quarter
3 1 - - - - -
3 2 - 2 - 2 -
3 - 2 - - - -
1 - - - - - -
- - - - - - -
- - - - 1 - -
5 - 2 - - - -
Subsequent quarters

4 5 1 2 2 1 -
4 8 1 1 1 4 3
7 1 1 - 1 - -
2 - - - - - -
- - - - - - -
- 2 - - - - -
7 3 - - 1 - -
Total

39 22 7 5 6 7 3
Label:

# Hotel establishments Lodging House To be defined About

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European
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benchmark

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European benchmark Amesterdam
83.9%

123.5€ Frankfurt
65.6%

69.6€

London 1
83.8% Berlin
141.8€ 80.0%

83.5€

Brussels
76.5%
Paris
94.2€ 76.7% Vienna
80.9%
103.7€
Milan 90.3€

75.2%

105.5€
Porto
55.0%
Lisbon
65.4€ 79.2%

90.4€ Barcelona Rome

Label: Madrid 80.0% 73.9%
Occupancy rate 77.6%
112.3€ 98.7€
RevPAR 79.6€

Source: Observatório do Turismo de Lisboa, Associação de Turismo do Porto,

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Observatoire du Tourism à Bruxelles, Madrid Destino, Analysis: Deloitte

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National Top 5
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Historical Evolution

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National Top 5 Historical Evolution 1

020
2

Accor Minor Hoti Hotéis/

Vila Galé Hotels Meliá Hotels
Pestana Hotels Hotels
Hotéis & Resorts
& Resorts/
Pestana Pousadas

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels & Pestana Hotels &
1 Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana Resorts / Pestana
Pousadas 2 Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2
Pousadas
2

2 Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis Vila Galé Hotéis

3 Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels Accor Hotels

4 Espírito Santo Espírito Santo Espírito Santo Tivoli Hotels Tivoli Hotels Tivoli Hotels Tivoli Hotels Tivoli Hotels Tivoli Hotels Tivoli Hotels Hoti Hotéis/ Minor
Hotéis 3 Hotéis 3 Hotéis 3 & Resorts 3 & Resorts 3 & Resorts 3 & Resorts 3 & Resorts 3 & Resorts 3 & Resorts 3 Meliá Hotels Hotels
& Resorts

5 Starwood Hotels VIP Hotels VIP Hotels VIP Hotels VIP Hotels VIP Hotels ECS Capital SANA Hotels SANA Hotels Marriott Hotels Marriott Hotels Hoti Hotéis/
& Resorts & Resorts & Resorts Meliá Hotels
& Resorts
1
Ranking based on the number of accommodation units.
2
Pestana Hotel & Resorts / Pestana Pousadas and Pestana Hotel & Resorts / Pousadas de Portugal are the
same Hotel group / Management entity. The entity’s designation was changed.
3
Grupos Espírito Santo Hotéis and Tivoli Hotels & Resorts are the same Hotel group / Management entity.
About
The entity’s designation was changed.

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Portuguese Hotel
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Investment Survey

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Key messages
Investment or recession? – Opinions diverge on whether the national hotel market is in an investment phase or not. About 36% of the
1 respondents argues that the hospitality sector is in a period of recession, while 36% state that the sector is in the investment phase. As in the
previous year, Porto (44%) and Lisbon (38%) were referred as the most attractive Portuguese cities for hotel investment in 2021.

Who will invest? – 50% of the survey participants affirm that international hotel chains and private equities will be the main capital
2 source of the Portuguese hotel industry. 31% and 19% also have pointed out asset management firms and institutional investors, respectively,
as relevant funding sources for the hospitality sector. It is expected that capital will come mostly from Europe (63%), in particular from Portugal
(19%). It can also be seen a relevant increase in the percentage of capital originating from North America (50%).

3
The attractiveness of the European market – 31% of the respondents selected Lisbon as the most attractive European city
to hotel investment in 2020. Other European cities like Amsterdam, Barcelona, Dublin and Madrid are also among the most attractive cities to
investors in the sector.

Risks in the next 5 years – The increased supply for alternative products (56%) and the shortage of qualified labour force (50%)
4 were considered as the main risks to the Portuguese hotel sector in the next 5 years. In Europe, the economy growth (73%), black and grey
swans (45%) and possible terrorist attacks (33%) are the risks that worry investors the most.

Covid-19’s Impact – The majority of the survey participants (69% in March 2020 and 73% in July 2020) believe that there will be a reduction

5 in the average annual occupancy rates of more than 50%. Between March and June 2020, it was also noted an increasing pessimism regarding the
average daily rate (ADR) of the year. While in March, all the respondents expected an ADR reduction of 25% or less, in July, 36% of the participants
admitted a possible ADR reduction between 25% and 50%.

6
Sector recovery – Between March and July 2020, there was also an increasing pessimism concerning the sector recovery. In March, the
majority of the respondents (54%) believed that the beginning of the sector recovery would take place in early 2021, however, in July, only 18%
expected a recovery starting in early 2021 and, in most cases (55%), the participants predicted a recovery with effect from the second half of 2021.
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Portuguese Hotel Investment Survey
Investments stage for the portuguese Most attractive portuguese regions for hotel investment
hotel industry in 20201

Investment
peak

Porto
44%

28%
Recession Investment

Others
Lisbon 31%
36% 36% 38%

Recovery

Algarve

0% 13%

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1
Question with possibility of multiple answer.

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Portuguese Hotel Investment Survey
Main capital sources for Portugal’s Portugal hotel industry main risks
hotel industry1 (5 year horizon)1

Private equity/ International Asset Institutional Increased supply for Skilled Competitive
venture capital hotel chains management funds investors alternative products labour force markets growth

50% 50% 31% 19% 56% 50% 44%

Pension Insurance Sovereign Economy Labour Other

funds companies wealth funds growth legislation

6% 6% 0% 31% 19% 19%

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Portuguese Hotel Investment Survey
Main capital sources for Portugal’s hotel industry1

Europe
63%

Portugal
19%
Other
19%
North
America

50%

South
America

6%

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1
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Portuguese Hotel
Investment Survey Amsterdam
19%

Most attractive european cities London

for hotel investment in 20201 13%

Dublin
19%

Paris
13%

Lisbon
31%

Madrid Barcelona
Label:
19%
Hotel investment 19%

1
Question with possibility of multiple answer.
6% of the participants also identified as more attractive other cities
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than those above mentioned.

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Portuguese Hotel Investment Survey
Risks associated with the hotel industry in the european context, over the next 5 years

9% 7%
20% 15% 34% 33%

7% 46% 45% 53%

73% 39% 33% 46% 40%

Economy growth Politic tensions Terrorist attacks Black and grey swans Overtourism phenomenon

Very important Important Less important

Challenges for the hotel industry in the european context, over the next 5 years
8% 6% 13%
23% 31% 38% 29% 21% 44%

24%

46% 54% 50% 50% 63%

Investment opportunities Growth opportunities New technologies Attract and create loyalty Ability to retain highly qualified
in Europe (augmented operational margins) adoption among new customers human resources
(millennials)
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Very important Important Less important
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Portuguese Hotel Investment Survey
Covid-19 impact on average annual occupancy rates

Perception in March 2020 Perception in July 2020

69% Occupancy rate 73% Occupancy rate

reduction of more than 50% reduction of more than 50%

31% Occupancy rate

reduction between 25% and 50% 18% Occupancy rate
reduction between 25% and 50%

9% Occupancy rate reduction of 25% or less

0% No impact 0% Occupancy rate 0% No impact

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Covid-19 impact on average daily rate (ADR)

Perception in March 2020 Perception in July 2020

100% 36%
ADR reduction ADR reduction
of 25% or less between 25%
and 50%

64%
ADR reduction
of 25% or less

None of the participants identified the options “No impact”, “ADR reduction None of the participants identified the options “No impact”
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between 25% and 50%” and “ADR reduction of more than 50%” as a possibility. and “ADR reduction of more than 50%” as a possibility.

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Beginning of the recovery of the hotel sector

Perception in March 2020 Perception in July 2020

54% 55%
Beginning Second semester
of 2021 of 2021

31%
Fourth quarter
27%
Other
of 2020

18%
15% Third Beginning
quarter of 2020 of 2021

0% Other 0% 0%
Third quarter of 2020 Fourth quarter of 2020

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Notes
Were considered the following types of hotel establishments:

• Hotels; • Tourist apartments; • Apartment hotels; • Tourist village; • Lodging houses; and • Rural hotels.

For ranking purposes it was considered the total number of accommodation units in hotel establishments at 31st December 2019, including those which were temporarily not operating at that date.
It should be noted that the units that compose the hotel complexes were considered disaggregated, i.e., they are recorded individually as hotel establishments.
Accommodation units refer to the number of rooms and/or apartments.
A double bed represents 2 beds, a T0 has 1 bedroom (2 beds), a T1 has 1 bedroom (2 beds), a T2 has 2 bedrooms (4 beds) and a T3 has 3 bedrooms (6 beds).
The aggregation of hotel establishments in hotel groups / entities management complies its integration in a Group (entities that owns more than a hotel establishment) and / or the existence of a
common denominator in their operation. Accor Hotels, Hoti Hotéis and Pestana Hotels & Resorts Group include tourism developments that are in a franchise system.
The geographical division of Portugal complied with the NUTS II defined by National Institute of Statistics.
The data collection from the 20 largest Groups was concluded on the second week of May 2020.
The remaining information was collected through the websites of the Groups and independent hotel establishments, the databases of Turismo de Portugal and Regional Tourism Entities, as well as
other public information.
Tourist apartments with less than 10 apartments have not been considered.
The information regarding the new hotel establishments expected for 2020 was collected until the last week of March 2020 and was based on Regional Tourism Entities information and public
information.

Notes | Local Accommodation

Were considered the following types of establishments:

• Apartments; • Lodging Establishments; • Lodging Establishments – Hostels; and • Dwellings.

The information was collected from the Registo Nacional do Alojamento Local (RNAL), available through the website of Turismo de Portugal, on first week of May 2020. The original information
had a total of 96,760 establishments, but for the purpose of Atlas da Hotelaria 2020 we have considered a total of 92,017 establishments.
The selection of establishments was based on the year of registration in the RNAL, therefore all establishments registered before 2000 and after 31st december 2019 were disregarded.
According to information provided informally by Turismo de Portugal the registration of each establishment in the RNAL is performed autonomously and independently by the respective owners,
so the accuracy of the information available is not the responsibility of the Turismo de Portugal.

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Duarte Galhardas Jorge Sousa Marrão

Consulting Financial Advisory
Partner Partner
Tel: +351 965065615 Tel: +351 963902674
[email protected] [email protected]

Miguel Eiras Antunes Inês Cintra Costa

Consulting Financial Advisory
Partner Senior Manager
Tel: +351 969658255 Tel: +351 962103923
[email protected] [email protected]

Rui Gidro
Consulting
Partner
Tel: +351 933259269
[email protected] About

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